News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • (Analyst Pick) Japanese Yen Outlook: USD/JPY May Fall But Broader Path Remains Bullish #Yen $USDJPY #JPY https://www.dailyfx.com/forex/analyst_picks/todays_picks/daniel_dubrovsky/2021/03/03/Japanese-Yen-Outlook-USDJPY-May-Fall-But-Broader-Path-Remains-Bullish.html?ref-author=Dubrovsky&QPID=917702&CHID=9 https://t.co/bGlHiuTCBn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.52%, while traders in Germany 30 are at opposite extremes with 71.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2Gl2SlMure
  • Update on #Cryptocurrencies #BITCOIN +2.89% #BITCOINCASH +3.09% #ETHEREUM +3.88% #RIPPLE +1.65% #LITECOIN +5.79%
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/GVZ0RT2Zh3
  • BoJ's Kataoka: Hard to see inflation nearing 2% Will keep making utmost effort toward price target - BBG #BoJ $JPY
  • 🇨🇳 Caixin Services PMI (FEB) Actual: 51.5 Previous: 52.0 https://www.dailyfx.com/economic-calendar#2021-03-03
  • BoJ's Kataoka: Desirable to lower rates to strengthen easing Will add stimulus without hesitation if needed Will extend special funding program if necessary - BBG #BoJ $JPY
  • RT @BrendanFaganFx: AUD/USD Eyes February High After Australian Q4 GDP Beat $AUD $USD Link: https://www.dailyfx.com/forex/market_alert/2021/03/03/AUDUSD-Eyes-February-High-After-Australian-Q4-GDP-Beat.html
  • BOJ's Kataoka says it is appropriate to link forward guidance to a price target - BBG $USDJPY
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your market update from @DanielGMoss here: https://t.co/9bkVXQuP5C https://t.co/K4OaGLhNm1
GBPUSD: Sterling Slips After Latest Brexit Votes Approve Deadline Pushback

GBPUSD: Sterling Slips After Latest Brexit Votes Approve Deadline Pushback

Rich Dvorak, Analyst

BREXIT LATEST – TALKING POINTS

  • GBPUSD slid lower following a slew of votes from British Parliament to delay Brexit as uncertainty remains over the UK’s departure from the EU
  • Although a number of amendments failed to garner enough support, the government’s main motion to revoke Article 50 and extend the March 29 Brexit deadline passed
  • Check out these tips on Using News and Events to Trade Forex

British MPs gathered once again in the House of Commons for a third consecutive day of Brexit voting. This time Parliament set out to decide on revoking Article 50 which prompts the government to request permission from the European Union to delay the quickly approaching Brexit deadline only 15 days away.

Today’s votes over extending Article 50 was brought about after Prime Minister Theresa May’s renegotiated Withdrawal Agreement failed to gain enough Parliamentary support on Tuesday while yesterday MPs also rejected the idea of no-deal Brexit.

BREXIT ARTICLE 50 AMENDMENTS AND VOTE RESULTS

Four separate motions were selected to vote on and all looked to amend Prime Minister Theresa May’s call to push back the official March 29 Brexit date spelled out in Article 50. Amendment H, which called for an extension to hold a second referendum, was called on first but only 84 MPs voted in favor while 334 opposed.

Amendment to Amendment I was up next with the original Amendment I following – both of which failed but by a much tighter margin with 311 ayes and 314 noes on the original amendment. Thirdly, Jeremy Corby’s Amendment E was shot down with 318 voting no and 302 voting in favor while lastly Amendment J – which would have prevented a third meaningful vote over the PM’s Brexit deal – was tabled shortly after. Despite the failure of the amendments, the government’s main motion to revoke Article 50 passed with an overwhelming 412 to 202 majority.

GBPUSD CURRENCY PRICE CHART: 1-MINUTE TIME FRAME (MARCH 14, 2019 INTRADAY)

GBPUSD: Sterling Slips After Latest Brexit Votes Approve Deadline Pushback

Markets largely expected MPs to vote in favor of a Brexit delay headed into today’s session. Parliament is now expected to hold another vote next Wednesday as the UK government scrambles to find enough support for its Withdrawal Agreement.

As the Prime Minister stated yesterday, however, the legal default is a hard, no-deal Brexit if a deal cannot be agreed upon before the deadline. Also, despite today’s vote passing the motion to request a Brexit deadline extension, the delay is still contingent on approval from the other 27 members of the European Union.

More Brexit Insight and GBP Trading Resources

-Brexit Timeline

-British Pound – What Every Trader Needs to Know

-Sterling Outlook – GBPUSD, EURGBP Price Analysis

---

Written by Rich Dvorak, Junior Analyst for DailyFX

Follow @RichDvorakFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES